The Difference Between the Financial Statements of Private Not-For-Profit Hospitals

Multiple Choice

The difference between the financial statements of private not-for-profit hospitals and private not-for-profit voluntary health and welfare organizations is:

A) Hospitals do not have to prepare a Statement of Functional Expense.
B) Voluntary health and welfare organizations do not have to prepare a Statement of Cash Flows.
C) Both (a) and (b) above.
D) Neither (a) nor (b) above.